Vicus Capital Purchases Shares of 29,043 Archer Aviation Inc. $ACHR

Key Points

• Vicus Capital has acquired 29,043 shares of Archer Aviation Inc. during the 2nd quarter, valued at approximately $315,000.
• Analysts are generally positive on Archer Aviation, with a consensus average rating of "Moderate Buy" and a target price of $13.43.
• Insider transactions include a significant stock sale by CTO Thomas Paul Muniz, who sold 86,133 shares at an average price of $9.83, reducing his position by 6.09%.

Vicus Capital purchased a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,043 shares of the company's stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACHR. Miller Wealth Advisors LLC boosted its stake in Archer Aviation by 28.6% during the second quarter. Miller Wealth Advisors LLC now owns 8,982 shares of the company's stock valued at $97,000 after buying an additional 2,000 shares during the period. PFG Investments LLC raised its holdings in shares of Archer Aviation by 6.4% in the 2nd quarter. PFG Investments LLC now owns 26,891 shares of the company's stock valued at $292,000 after acquiring an additional 1,620 shares in the last quarter. Avondale Wealth Management boosted its position in shares of Archer Aviation by 40.9% during the 2nd quarter. Avondale Wealth Management now owns 79,250 shares of the company's stock valued at $860,000 after acquiring an additional 23,000 shares during the last quarter. Meridian Investment Counsel Inc. purchased a new position in shares of Archer Aviation during the second quarter worth about $436,000. Finally, Sara Bay Financial increased its position in shares of Archer Aviation by 20.1% in the second quarter. Sara Bay Financial now owns 13,821 shares of the company's stock worth $150,000 after purchasing an additional 2,314 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ACHR shares. Needham & Company LLC reiterated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and a consensus price target of $13.43.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the sale, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This represents a 6.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Priya Gupta sold 10,224 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares of the company's stock, valued at $1,446,513.99. The trade was a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,068 shares of company stock worth $1,848,708. Insiders own 7.65% of the company's stock.

Archer Aviation Trading Up 3.9%

Shares of ACHR opened at $10.20 on Friday. Archer Aviation Inc. has a fifty-two week low of $2.85 and a fifty-two week high of $13.92. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of -7.55 and a beta of 3.06. The firm has a 50 day moving average price of $9.48 and a 200-day moving average price of $9.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.

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